Like so many others, we have anxiously been waiting and watching the US Congress for the last month. As a charitable organization, we are particularly interested in the IRA charitable rollover provision. Late last night, December 16, Congress voted to extend the provision. This provision allows owners of individual retirement accounts, who are 70 1/2 and older, to contribute up to $100,000 of their IRA assets directly to public charities, like the Educational Trust. While there is no charitable deduction for the gift, the gift will not count as ordinary income for the owner. The contribution of IRA assets to a non-profit can also count toward the owner’s required annual withdrawal.

This benefit is only good through December 31 – 14 days from now!

Why is gifting from your IRA better than taking the income from your IRA and writing a check to charity?

Take the example of a $10,000 gift. Someone who doesn’t itemize deductions normally would receive no tax break for the gift. But the qualified charitable distribution would allow the taxpayer to exclude the $10,000 from income. Assuming one is in the 25% tax bracket, that would save $2,500.

Someone who itemizes wouldn’t get a deduction, but the $10,000 charitable contribution wouldn’t boost taxable income. That could help keep adjusted gross income below the thresholds at which one loses some deductions and other tax benefits. For example, individuals with more than $200,000 of adjusted gross income (AGI) and couples with more than $250,000 are subject to the new 3.8% tax on net investment income. Individuals with AGI above $250,000 and couples above $300,000 now start losing personal exemptions and itemized deductions. As income rises, one also can lose deductions for medical expenses, casualty losses and miscellaneous itemized deductions.

The provision may also help taxpayers avoid or reduce taxes on Social Security benefits and avoid higher Medicare Parts B and D premiums, which kick in when adjusted gross income exceeds certain thresholds.

To take advantage of this legislation and to help Chi Phi Brothers, contact Director of Development, John Fisher at 404.231.1824 or fisher@chiphi.org.

The last five years have brought uncertain economic times for many Americans. Coupled with interest rates at historic lows, now is the perfect time to consider a charitable gift annuity. A charitable gift annuity can supplement your income; reduce gift, estate and income taxes and allow you to make significant gifts to charities that are important to you, such as Chi Phi.

What is a gift annuity?

A charitable gift annuity is a simple contract by which Chi Phi promises to pay a fixed amount each year to you and/or another person for life in exchange for a gift of cash or securities. Payments may be made annually, quarterly or monthly to fit your preference. On the death of the surviving beneficiary, the remaining assets (or the charitable remainder) become available to Chi Phi to support the educational program, Chapter, scholarship or other program of your choosing.

Helping those you love

A gift annuity allows a variety of options and Chi Phi staff can help you determine what best fits your needs. A gift annuity can be set up to provide income for your lifetime or you have an option of arranging a gift annuity with income for one other person. You can guarantee income for your life or your surviving spouse or special loved one.

How to establish a gift annuity

When establishing a charitable annuity, you can choose whether to designate a specific use for your gift, such as your Chapter or a scholarship, or you can leave it unrestricted. Giving cash is the simplest way to fund your charitable gift annuity. With cash, you will benefit from immediate tax savings and a portion of each payment may be received income tax free. Securities that have increased in value but still yield less than desirable income might be another good choice for funding your gift annuity. Real estate and other real assets can also be used to fund a gift annuity. Normally the non-cash assets are sold and reinvested to produce annual payments to you or your named beneficiary.

For more information about establishing your gift annuity and ensuring life income, contact Director of Development, John Fisher at 404.231.1824 or fisher@chiphi.org.

Charitable Gift Annuity Annual Payment Rates

Single Life Rates

Two Life Rates

70

5.1%

70 & 75

4.8%

75

5.8%

75 & 79

5.3%

80

6.8%

80 & 83

6.0%

85

7.8%

85 & 87

7.0%

90+

9.0%

88 & 90

7.9%

Is a Charitable Gift Annuity Right for You?

Would you like to receive regular, stable income for life or to provide regular income for someone else, such as a spouse or other loved one?
Are you in a position to irrevocably transfer cash, securities or real property to Chi Phi?
Are you interested in reducing your income tax burden or capital gains tax burden, as well as reducing future estate taxes and probate fees?
Do you want to change the lives of Chi Phi Brothers for generations to come?

If you answered yes to any of these questions, a gift annuity might be right for you. Contact Director of Development, John Fisher at 404.231.1824 or fisher@chiphi.org for more information.

Since 1975, Chi Phi’s membership has more than doubled. Just 38 years ago, the Fraternity served 28,871 Actives and Alumni. Today, there are more than 47,000 Chi Phi Brothers. Chi Phi has seen its volunteer efforts, administrative tasks and educational responsibilities grow exponentially. The model for Greek life is also changing. Leading students look for a fraternity that enhances their collegiate experience outside of the classroom, one that serves as a launch pad to a successful career.

To better serve Chi Phi Brothers, the Educational Trust established the Board of Advisors in March 2013. The Board of Advisors supports the Educational Trust’s Board of Trustees and provides critical advice on a number of current issues facing the Trust. This is of particular demand today because of the resulting demands of a rapidly growing membership organization and the changing Greek world.

The Board of Advisors had their inaugural meeting in January 2014 in conjunction with the Alphas Academy. The advisors reviewed the Trust’s Strategic Plan, making key updates and offered advice on the Changing Lives Campaign. Advisors also discussed Chapter housing and how Chi Phi may be able to better support housing for Chapters.

Four advisors participated in the Taking Leadership from the Chapter Room to the Board Room panel during the Alphas Academy and all joined the Alphas for the Chairman’s Dinner. “This was a great weekend. I enjoyed meeting other Alumni, but spending time with the Chapter Alphas was fantastic,” shared Advisor Dick Gilbert, Rho 1962.

What could be better than hitting the links with your Chi Phi Brothers? How about knowing those 18 holes directly support thousands of young Brothers working hard to complete their education and become better men.

This year Barton Creek’s Canyon course in Austin, Texas will host the fourth annual Watts Gunn Memorial Golf Tournament. Proceeds from the tournament fund Chi Phi’s College of Excellence which helps our young Brothers develop leadership skills they will carry with them long after graduation.

You can help make Watts Gunn an even bigger success this year. Opportunities are available for corporate sponsorships, Chapter sponsorships and individual player positions. Each sponsorship opportunity offers a variety of benefits to create exposure for your organization, while impacting the lives of young Chi Phi Brothers.

Chapter sponsorships are a new opportunity! Consider sponsoring your Chapter to send a team of the best golfers among your Alumni or Actives to Austin and compete for the Watts Gunn Chapter Cup. Chapter sponsorships will also provide funding for your Chapter Excellence Fund and directly impact the Chi Phi’s at your Alma mater.

All supporters are invited to attend the annual Chi Phi Leadership Dinner in downtown Austin following the tournament to celebrate our tournament champions, Chapter Cup winners, longest drive and closest to the pin victors. We hope to see you at the tee box this June! Visit www.chiphi.org/golf or contact Nick Holmes, Director of Development at holmes@chiphi.org or 404-231-1824 for more information.

As Grand Alpha, Rocco Henry Carnevale, Mu 1980, made it clear to anyone who would ask and in every action he took his first priority was to serve the Brothers of the Chi Phi Fraternity.

Thanks to an extraordinarily generous gesture, Carnevale’s service and name will live on for generations as a result of the $110,000 gift he’s made to support his beloved Mu Chapter and endow what will become known as the Rocco Henry Carnevale Scholarship.

To accomplish his objectives, Carnevale named the Chi Phi Educational Trust as a beneficiary of his 403(b) plan for $100,000. Naming a nonprofit organization like the Educational Trust as the beneficiary of a 403(b) or 401(k) plan is a method of planned giving without involving the estate or estate taxes. In this case, it provides a permanent endowment to provide perpetual support to an institution Carnevale cherishes.

In addition, Carnevale becomes one of the most recent alumni to make a five-year commitment and join the prestigious Gladfelter Circle recognizing those alumni contributing $2,000 in one year, with $10,000 going to the Mu Chapter Excellence Fund. “I am pleased to support the Brothers in this way, and I encourage other alumni to come off the sidelines and be recognized as part of the legacy of our first ever capital campaign.”

“A monthly deduction from your bank account or credit card is a great way of becoming a Gladfelter Circle member. Any amount will make a big difference, especially over time, to Chi Phi” explained Carnevale. “At the end of the day, it’s all about leadership and setting the example of giving back to the institutions that made us who we are today.”

“When I started college in 1976, I found a stable and nurturing environment at Chi Phi. It’s my hope that our tradition of serving and giving will be passed along well into the future to all the Brothers.”

Carnevale’s service to Chi Phi began as a young man on the campus of the Stevens Institute of Technology located across the Hudson River from New York City in Hoboken, New Jersey. As an undergraduate, Carnevale held several chapter offices, including Beta, Delta, Recruitment Chairman and Steward while earning his Bachelor of Engineering degree in Mechanical Engineering in 1980. During that time he also became a certified Engineer-in-Training and a member of ASME and ASHRAE.

Soon after graduating with his engineering degree in hand, Carnevale began his professional career working for a large multi-national architect engineering company designing and building nuclear and fossil fueled electric generating stations around the United States. In 1986 he achieved his professional engineering license and currently serves as a Project Manager / Systems Engineer at the Princeton University Plasma Physics Laboratory advancing technologies associated with thermonuclear fusion and energy development for over twenty five years.

As his career took off, he continued to remain connected to Chi Phi. He has served as president of the Mu Alumni Association for twenty five years after serving as secretary for three years. He is proud of the fact that the Mu Chapter house – affectionately known as the ‘Green Gate’ – is one of the few fraternity houses at Stevens that is not owned by the University. Thanks to the hard work and dedication of many Mu Brothers, Chi Phi continues to chart its own destiny and manage a sizable asset for the benefit of future generations.

His involvement with the national fraternity began in 1988, when he attended the College of Excellence as an Alumnus participant. His interest in serving the broader Chi Phi brotherhood increased with his exposure to programs such as COE and RLA as well as Chi Phi Clubs and Meet and Greets across the country.

“Attending COE as an observer really helped me learn the ropes as a young Alumni President and gave me an opportunity to meet with my peers from other chapters,” Carnevale reminisces.

In 1998, he attended his first Congress as a voting Alumni Delegate in Atlanta. Carnevale has attended every one since the 2000 Congress in Chicago.

“I learned that sitting at the table is better than being in the room, and if you are not in the room, you are in big trouble.”

Carnevale considers alumni involvement with the host Universities and the National Organization essential to the health and wellbeing of the local Chapter.

Carnevale was elected to the Board of Governors of the Educational Trust at the 2002 Congress in San Francisco serving two terms during the Ron Frank administration. In addition, he served on the COE Dean’s Team from 2002 - 2008 and as a group facilitator. He was Alpha of Congress at the New York City Congress in 2003, and served as Chairman of the Executive Director Search Committee that hired Michael Azarian, Psi Delta 1997, in 2004.

Grand Alpha Richard Lane, Kappa Zeta 1993, invited Carnevale to serve on the Grand Council in 2004 as the Heritage & Traditions Counselor. Between his service to COE and on the Grand Council, Carnevale earned a reputation as a great communicator, among students and alumni. He was elected Grand Alpha-Elect in 2006 and took over as Grand Alpha at the 142nd Chi Phi Congress in Las Vegas, Nevada in 2007, serving the National Fraternity until the Denver, Colorado Congress in 2009.

In 2013, Carnevale began serving the National Fraternity as a member of the Grand Alpha-Elect Search Committee and the Educational Trust as a member of the newly established Trust Advisory Committee. He spent much of his time as Grand Alpha visiting the local Chapters and as many undergraduates and alumni as possible. He continues to visit Chapters and Brothers on his travels and was awarded the Chi Phi Distinguished Service Award at the Baltimore Harbor Congress in 2012. He received the Stevens Alumni Award in 2014.

Endowing scholarships is a way to continue his service to and support of Brothers far into the future.

“I see my involvement as an investment in advancing a highly worthy endeavor and helping the Brothers to develop professionally and socially in a pluralistic society,” said Carnevale. “Fundamentally, we are all links of a chain, and it is our responsibility to maintain the strength and integrity of our Fraternity.”

Chi Phi Alumni, through their generous Changing Lives Campaign donations, made the 2014 Alphas Academy a huge success. Forty Chapter and Colony Alphas descended on the Georgia Tech Hotel and Conference Center for three days of training, fellowship and Brotherhood. Alphas spent time discussing what it means to be a Chapter Alpha and how they can serve as a role model for other Brothers.

Alphas took time to assess their leadership styles and how those styles can best serve their individual Chapter. “I learned about four different types of leadership that I can use with my chapter depending on the situation,” stated Kappa Chapter Alpha Eric Underwood. “I believe this will help me be a more effective Chapter Alpha.”

They also heard from Cori Gilbert Wallace, Delta Gamma Fraternity National Vice President of Communication, who discussed what society needs from fraternity men. A panel of Alumni Brothers discussed taking leadership from the chapter room to the board room and the weekend concluded with the Chairman’s Dinner and guest speaker USMC Brigadier General J. Dale Alford, Alpha Zeta 1984.

Dean Eldridge, Psi Chapter Alpha shared, “I liked hearing every Chapter’s perspective from around the nation. I liked hearing how other Chapters face some of the same issues my Chapter faces. I can use the ideas from those Chapter Alphas, those outside ideas, new ideas, to help my Chapter.”

“This is one of my favorite Chi Phi events. I love spending time with our Chapter Alphas, who are a very impressive group of young men. Seeing them developing their Chapter leadership plans and interacting with Alumni to better their skills is what building better men is all about,” stated Trustee and Chairman’s Dinner attendee John McElderry, Eta 1994

To click here to view the Alphas Academy participant guide and to hear more directly from Alphas Academy attendees click here.

Forty-one Chapter Alphas from all over the nation descended on Atlanta, GA for the second annual Chi Phi Alphas Academy. The group included sophomores, juniors and seniors; a wrestler, a football player, a scuba diver, three future doctors, a professional go-cart racer and a distant cousin of Kentucky Fried Chicken Founder Col. Sanders! They anticipated working hard, making new friends and having fun along the way.

The weekend kicked off with Alphas and alumni visiting the Chi Phi Greek Life Museum and touring the William M. Byrd Chi Phi Headquarters. From there, Alphas broke into Chapter groups were they assessed current leadership abilities and discussed challenges faced by every Alpha. Throughout the weekend, the Alphas defined Leadership as, “a process that occurs when shared values foster collaborative relationships that lead to collective action intended to elevate (or create positive change within) an organization, cause or community.”

Based on this definition, Alphas spent time learning more about the behaviors of leaders and the foundation of leadership. Day two of the Academy brought more learning opportunities and an address from Grand Alpha Jim Soderquist, Alpha 1967. Grand Alpha Soderquist shared that while actives only comprise 5% of Chi Phi?s total membership, they are the face of the Fraternity. It is up to Alphas to lead their Chapter Brothers to be advocates for Chi Phi and Greek Life.

Grand Alpha Soderquist also took a moment to recognize the donors to the Changing Lives Campaign, which helped make this long awaited program possible. Through their generous donations, something that was a dream for nearly 15 years became a reality. The Alphas Academy was developed to provide Alphas with the tools to be the model leader and to elevate the performance of Chapters.

It was also announced that Brother Jim Hartsel, Rho 1962 has made a generous gift to establish the David Walsh Fund for Undergraduate Leadership which will provide scholarships for Brothers to attend the Alphas Academy. The first fund dedicated to Alphas Academy scholarships, it will honor the memory of Rho Chapter Brother Dave Walsh who was killed in action during the Vietnam War. Brother Walsh, like so many Brothers that will attend the Alphas Academy, was a natural leader and earned the Distinguished Service Cross for extraordinary heroism in action.

Alphas also had the opportunity to hear from Jim Wimberly, Eta 1965; Ken Fredericks, Theta Delta 1980; Dave Skelton, Omega 1980 and Brian Otott, Alpha Zeta 1989 on the Taking Leadership from the Chapter Room to the Board Room alumni panel. Brother Otott shared that Alphas must model the behavior they want to see from their Chapter. “People will be looking to you, the Alpha, to walk the walk. Showing your core values in your actions will help your Brothers understand what is expected of them.”

Brother Fredericks, who spent 20 years leading the Human Resource divisions of major corporations, shared that the most important lesson he learned from Chi Phi and his career is that picking the right people is the key to success. “Selecting the right Brothers to join the Chapter, the right Brothers to chair a program or serve as an officer is no different than how a corporation works to select the right employees. Don’t be afraid to pick the right people.”

The weekend wrapped up with the Chairman’s Dinner hosted by Trust Chairman Chris Shuler, Alpha Zeta 1984. Col. J. Dale Alford, USMC, Alpha Zeta 1986 addressed a crowd of nearly 100 Alphas, alumni and guests. Col. Alford, one of the most highly decorated Marines serving today, shared with the Alphas, “Don’t be threatened by disagreements. It will take time, but if you are honest and consistent, your Brothers will learn to tell you, the Emperor, you have on no clothes. You want that.” He also went on to say, “Be transparent. Make your decisions in open forums. It’s never about you. It’s about the Fraternity, it’s about your Brothers and it’s about the success of your Chapter.”

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About Chi Phi

The Chi Phi Educational Trust is a 501(c)(3) educational foundation whose mission is to support the Chi Phi Fraternity by promoting scholarship, developing character, improving educational facilities and supporting charitable causes. We are a values-based organization founded on the basis of Truth, Honor & Personal Integrity. These are timeless values, which guide the fundamental purposes of the fraternity foundation.